Stonemont taps into Northern Indiana industrial market with new build-to-suit in Bristol

Stonemont Financial Group, a private real estate investment firm specializing in industrial development and net lease assets, announced today that it closed on a 500,000-square-foot built-to-suit development in Bristol, Indiana for MJB Wood Group, a leading manufacturer and distributor of industrial wood products. Stonemont will serve as developer and owner of the project, which broke ground at the end of May.

Headquartered in Dallas, MJB is a leader in the building materials industry, offering unique, technology-enabled supply chain services to global manufacturers of products including cabinets, fixtures, furniture, automotive components and other goods. Stonemont’s build-to-suit in Bristol will serve the manufacturer’s transportation division, which supplies specialty wood to recreation vehicle (RV) manufacturers in the surrounding area. Bristol is located in Elkhart County Indiana, which is referred to as the “RV Capital of the World” and produces over 80% of all RVs built in the U.S.

The development lies on a 37-acre rail-served site and will include 374,320 square feet of warehouse space, a 108,000-square-foot manufacturing area and 10,000 square feet of Class A office space. It will be the only Class A, concrete tilt-wall facility in the market, providing long-term durability and setting the tone for future industrial development in the region. 

Stonemont was introduced to MJB through its partnership with Regions Bank and was awarded the transaction due to its superior pricing, relationship focus and a proven track record of executing similar transactions successfully. Stonemont will oversee the development and financing of construction of the project and will serve as the landlord and owner for the building once construction is complete.

“This development is a prime example of Stonemont’s ability to meet our clients where they are and develop tailored build-to-suit projects that support long-term growth objectives,” said Zack Markwell, managing principal and CEO of Stonemont Financial Group. “This state-of-the-art facility is a forerunner that will help spark a new wave of industrial development in northern Indiana, and also solidifies MJB’s position as one of the top industrial wood suppliers in the country. We look forward to supporting the company in the next chapter of its business evolution.”

Stonemont’s venture into the northern Indiana industrial market comes at a time of immense growth for the firm, which recently announced an expansion in four new markets, including Chicago. Stonemont’s industrial development team currently has more than 10 million square feet of Class A product under construction. Last year, Stonemont broke ground on a 615,000-square-foot industrial facility in Lebanon, Indiana, outside of Indianapolis.